LEARNING OUTCOMES
Understanding the demand for products and services is vital across business operations. This course provides students with tools and techniques for (i) analyzing and forecasting the demand of a product and (ii) managing this demand through pricing and capacity decisions. Collectively, these tools are referred to as revenue management.
After the course, students will be able to identify appropriate demand analysis and forecasting tools for different types of products and services and apply these tools to practical applications, and understand the value and limits of revenue management tools in controlling demand.
Credits: 6
Schedule: 25.02.2025 - 07.04.2025
Teacher in charge (valid for whole curriculum period):
Teacher in charge (applies in this implementation): Heikki Peura
Contact information for the course (applies in this implementation):
CEFR level (valid for whole curriculum period):
Language of instruction and studies (applies in this implementation):
Teaching language: English. Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
valid for whole curriculum period:
The course will cover demand analytics and forecasting as well as revenue management and price optimization, including the process of identifying problems where employing analytics is appropriate, translating problems into models, and interpreting the results. The topics covered will include, for example, statistical and optimization models applied to settings in e.g., transportation, hospitality, retail, media, and energy.
Assessment Methods and Criteria
valid for whole curriculum period:
Assignments and exam.
Workload
valid for whole curriculum period:
Lectures, independent and group work, and exam.
DETAILS
Study Material
valid for whole curriculum period:
Lecture slides, scientific articles, book chapters, assignments, computer implementations of mathematical models.
Substitutes for Courses
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
FURTHER INFORMATION
Further Information
valid for whole curriculum period:
Teaching Language: English
Teaching Period: 2024-2025 Spring IV
2025-2026 Spring IVRegistration:
There is a maximum number of students on this course. Priority will be given to Aalto students studying in the MSc-programs in Information and Service Management & Business Analytics.